The chancellor is still splashing the cash but he may soon have to confront the need to raise revenue to pay for his emergency support during the crisis, as economics expert David Smith reports.
It is not that long ago since all the speculation was about tax increases particularly for the better off to pay for the government’s big ‘levelling up’ agenda which includes a large-scale infrastructure programme. Such talk may well return but for the moment Rishi Sunak is content to use tax cuts to steer the economy out of its deep recession.
In his summer economic update on 8 July officially known by the Treasury as the ‘plan for jobs’ the chancellor announced two significant tax reductions. Each cost roughly £4bn in a package worth up to £30bn in total. A six-month reduction in VAT from...
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The chancellor is still splashing the cash but he may soon have to confront the need to raise revenue to pay for his emergency support during the crisis, as economics expert David Smith reports.
It is not that long ago since all the speculation was about tax increases particularly for the better off to pay for the government’s big ‘levelling up’ agenda which includes a large-scale infrastructure programme. Such talk may well return but for the moment Rishi Sunak is content to use tax cuts to steer the economy out of its deep recession.
In his summer economic update on 8 July officially known by the Treasury as the ‘plan for jobs’ the chancellor announced two significant tax reductions. Each cost roughly £4bn in a package worth up to £30bn in total. A six-month reduction in VAT from...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
